As a CRO, are you operating at optimum levels to be an active research dealer within the pharma/biotech industry?
At Sales-Link, we consider our lead generation managers to be conduits for business between our CRO clients and pharma, biotech, and diagnostic companies. We discover the spark that differentiates them from hundreds of competitors vying for the same research contracts.
What are the key ingredients we look for to help accelerate a CRO's pipeline for sales success as an active researcher? Know the answers to these questions below and you’ll be able to attract leads with quality content.
Are you showcasing your company in the best possible light?
Know the formulas that prove your company’s claims for fastest response time, savings and ROI. At Sales-Link, we encourage an exchange of information/informative content and testimonials that the sales teams can talk about with their customers. Content can be created into blog posts describing your resources that differentiate your technology and services.
You’ll never light a spark if you can't make claims you can backup.
Go back to the table with your team, study the competition and review your strengths (as well as weaknesses) - otherwise there is no sizzle to make the connection.
Even during difficult times within your industry, there is always business to be found. Look at your products/services affected by a temporary stigma and identify the value and promote the heck out of it. The stigma will most likely go away but it could take time.
Do you know what the competition is saying about themselves, and are you using that information to craft your own message?
I took notice to a great example of promotion that has stuck with me for a long time. Jim Cramer of Mad Money shared news regarding Quintiles IPO at the time. Of the new drugs approved for a specific period, Quintiles was involved in 85% of the CNS drugs, 76% of oncology drugs and 72% of cardiovascular drugs. Quintiles is a powerful dealer of research with proven results, and the largest CRO. Cramer enthusiastically expressed to his viewers why the company’s stock was a buy. Why was Cramer armed with the facts to sell? Quintiles excels at telling their story and shares statistics/content about its services. The company has a proven track record and consistently sells, sells, sells.
Content needs to be produced and put out there because more buyers are reading these days, counting on it to learn about your product/services. Buyers are no longer interested in meeting in person until they have completed their own independent research.
For Sales-Link, or any internal sales team, to be the most enlightened conduit to promote a CRO, work is necessary to differentiate business offerings like Quintiles has done. No matter your company size, a big pharma company still offers you a model plan for marketing with success in a saturated industry.
What do you do when a lead says, “No thank you?”
You start selling! There is a sales coach phrase “You don't start selling until a lead says, “No.” People will walk away because your company does not have a compelling story to tell. For example, when I am engaged in discussion with a company who is not familiar with Sales-Link’s services and says “no” right from the start, I say, “Wow, you must have quite an impressive pipeline of active leads!” Usually, the conversation turns around and I'll find out that the true reason for them giving me the brush-off. It typically is a budget constraint or a simple misunderstanding of what we can do. Either way, I work to get an answer other than no.
Your company should have a process for taking a second look at the people who decline your invites to meet. When it’s all said and done, these are my favorite type of leads to work especially if the company is on your target list. Step back and make a better plan for courting them. After all, they took the time to say no.
Maybe you didn’t provide them with enough content? Maybe it wasn’t relevant to the prospect's needs? Are you listening to them? Maybe it's a financial decision? No matter what the answer, it’s worth finding out why it’s a no for now. Often, it's only a matter of educating your prospects and finding out how your company can make their work easier, quicker and more cost effective.
Get on the phone, reach out with a call and respectfully make your case. Often, if you offer top-notch customer service as a smaller company you can even make the case for working with a smaller CRO. Again, know your competition and sell, sell, sell your services.
Are you having an internal conversation?
As a lead generation company, my employees are tasked daily with digging deep for nuggets of information and offerings that will attract prospects. Talking to people in your company’s various departments reveals a different perspective many times regarding passion, history of your people, and war stories that can be shared with customers. A sales professional’s best tool is his knowledge and stories they own that can be told over and over again, with a message that never gets old. Happy selling!